Five Year Summary

12 months ended 30 June

2014
£m 
2015
£m 
2016*
£m 
2017
£m 
2018
£m 
Revenue 864 1,150 1,382 1,660 1,920
Operating profit 138 213 261 322 382
Operating profit as a percentage of turnover 15.9% 18.5% 18.9% 19.4% 19.9%
Profit before tax  133 204 250 315 380
Net assets 696 873* 1,041 1,235 1,483
Net cash/(debt) (172) (154) (139) (73) 63
Gearing – net debt as a percentage of capital and reserves 24.8% 17.6%* 13.3% 5.9% N/A
Return on capital employed – operating profit before
exceptional items adjusted for joint ventures as a
percentage of opening and closing capital employed
18.0% 22.8% 23.7% 26.0% 28.5%
Return on equity 20.5% 26.4% 26.1% 27.7% 28.0%
Number of legal completions 3,597 4,022 4,716 5,319 5,718
Earnings per ordinary share 28.3p 44.5p 55.4p 70.2p 85.3p
Dividends paid per ordinary share 2.0p 4.0p 8.0p 12.0p 20.0p
Net assets per ordinary share 188.1p 236.1p* 281.5p 334.0p 401.0p

* Restated to reflect change in accounting policy.